Baykar relaunches Piaggio Aerospace: acquisition of the Italian aircraft manufacturer completed
The acquisition of Piaggio Aerospace by the Turkish group Baykar Technologies has been officially completed in Italy, with the company announcing an ambitious industrial relaunch plan for one of the historic names of Italian aerospace. The signing of the agreement, which took place on 30 June 2025, marks the transfer of ownership of Piaggio Aero Industries and Piaggio Aviation, now brought together under the Piaggio Aerospace group, to the Turkish manufacturer specializing in unmanned aerial systems.
The sale process had been entrusted to extraordinary commissioners appointed by the government, tasked with identifying a buyer for the company, which was founded more than 140 years ago. Baykar Technologies was selected as the new owner in December 2024, with the aim of ensuring industrial continuity and long term development prospects.
Adolfo Urso, Italy’s Minister for Enterprises and Made in Italy, described the transaction as “a strategic milestone in the relaunch of one of the historic brands of Italian aerospace.” As part of the agreement, a portion of the production of the Bayraktar Akıncı and Bayraktar TB2 unmanned aircraft will be allocated to Piaggio’s facilities, supporting future growth in demand
Hub europeo tra velivoli executive e sistemi unmanned
According to the agreement, Piaggio’s facilities will become a strategic European hub for the production of both the P.180 Avanti EVO executive turboprop and the unmanned aerial systems developed by Baykar. The Turkish group has also guaranteed the preservation of current employment levels at the Villanova d’Albenga and Genoa sites, with the prospect of workforce expansion in line with the growth of production activities.
Haluk Bayraktar, CEO of Baykar, emphasized that the goal is “to revitalize Piaggio Aerospace with a bold industrial vision, one that enhances its historic heritage and unlocks its full future potential,” reaffirming the group’s commitment to working alongside employees to create new opportunities and drive innovation.
The extraordinary commissioners described the transaction as “a historic moment for the rebirth of one of the oldest names in Italian aviation,” highlighting that the transition was completed while keeping the company fully operational, without resorting to bank financing or public support.
Al centro il rilancio dell’Avanti EVO
Among the key objectives of the development plan is the commercial relaunch of the P.180 Avanti EVO, a symbol of Italian aeronautical engineering in the high performance executive aircraft segment.
Selçuk Bayraktar, Chairman and CTO of Baykar, stated that Piaggio Aerospace represents “more than a century of engineering excellence” and that the acquisition should be seen not only as an industrial transaction, but as an opportunity to give fresh momentum to Italian aeronautical design and manufacturing, preserving its identity while projecting it toward the needs of the global civil market.
